In recent days, Bitcoin has plummeted along with the entire market, almost like a relentless meat grinder. As early as December 17, I reminded everyone that the market might need to adjust, and the technical indicators also showed signs of a decline. I advised everyone not to open contracts. Those who took my advice should have avoided this significant drop. So, what will happen to the market next? Let me briefly share my thoughts; if you're interested, take a look. This is just my personal opinion and not investment advice!!

This significant drop has many reasons. Over at the Federal Reserve, old Powell said that they cannot buy Bitcoin and do not want to change the law, which poured cold water on the market. Also, those who made money before now want to take their profits and secure their gains. Additionally, we cannot rule out the possibility that large holders are deliberately suppressing small retail investors. However, to be honest, despite the steep drop, going from 108,000 to 92,280 is only a drop of less than 15%, which is still relatively mild. Many altcoins have been halved; for example, Dogecoin $DOGE dropped from 0.48 all the way down to 0.262, which is truly tragic, a drop of 45%! Think about the last correction when Bitcoin fell from 73,777 to 49,000; that was really shocking, the magnitude was terrifying.

Right now, Bitcoin seems to have stabilized a bit, rising back to around 97,000. I estimate that over the weekend, the market will oscillate back and forth around this position to consolidate. At this time, it's not suitable to make random moves, but if you think the price is right, buying some spot and holding it is also a good choice.

$BNB has also dropped significantly, falling from a high of 793 to around 620, a drop of about 21%. However, as a mainstream coin, it has shown resilience against declines. If you are skilled at spot quantitative trading, trading back and forth at this time might still yield some profits.

Ethereum $ETH has fared worse, dropping to around 3100 at its lowest, with a nearly 25% decline. After this rebound, it’s time to adjust strategies. Fortunately, some institutional ETFs are buying; otherwise, who knows how far it would drop.

Returning to today's daily $BTC market analysis, from the K-line perspective, the 1-hour level shows an uptrend (momentum is insufficient and will soon go sideways), the 4-hour level is up, the 12-hour level is down, and the daily level is down, with an intraday resistance level of 100,000 and a support level of 94,000 dollars.